Ormat’s McGinness Hills Phase 2 Geothermal Power Plant Begins Commercial Operation

Ormat Technologies’ second phase of its McGinness Hills geothermal power plant located in Lander County, Nevada has begun commercial operation. Since February 1, 2015, the complex sells electricity under the amended PPA with NV Energy through December 2032. The second phase broke ground on March 2014 following resource confirmation and excellent performance of the first phase of McGinness Hills, which had been operational since June 2012. The project received favorable project financing terms from the Department of Energy's loan guarantee program under section 1705 and a $140 million loan was drawn under the OFC 2 Senior Secured Notes in August 2014.